Asset Management and Monetisation

Background

Group of +40 separate entities engaged in business throughout the South African agricultural value chain including:
Input sales and services;
Primary production; and
Processing and distribution (sales and logistics)

Engaged by board as Group Chief Restructuring Officer to develop and implement restructuring and/or wind down plan

Successfully concluded in excess of 20 transactions involving the sale of either shares or businesses in the group, to investors who are either better operators and/or have stronger and more appropriate capital structures
Approximately R1.5bn has been realised and paid to funders during the process to date
All creditors with liquidated debts or claims and without any possible counter claims have been settled to date

Evaluated financial position and prospects of viability and sustainability for the group, with 46 separate incorporated entities and total debt to financial institutions of circa R4bn at the date of appointment, in the group
Engaged with funders to secure fresh funding to support business activities and settling of creditors during restructuring and realisation of entities and/or businesses
Engaged with prospective investors in attempt to secure equity investment required for the group entities and/or businesses to be rescued
Developed and obtained board and shareholder approval and funder support for plan for structured wind down to maximise value of funders’ recoveries AND preservation of businesses and jobs
Engaged with investors to realise individual entities or business in order to settle debts to funders
Participated in corporate finance processes for each transaction which have included:
- Sales of shares & claims
- Sales of businesses
- Debt settlements, debt for asset swaps